New York, NY (January 24, 2012) – Knowre, an innovative education technology company developing an online adaptive learning service for mathematics, announces the closing of its $1.4 million investment round from SoftBank Ventures Korea (SBVK). The financing comes shortly after Knowre was awarded Grand Prize by Google and Korean governmental agencies (KISA and KCC) at Global K-Startup, a competition amongst 246 companies aimed at finding and supporting the next generation of global-ready startups. Knowre is also a member of the first class of SparkLabs, a startup accelerator supporting Korean entrepreneurs looking to grow outside of Korea.
Sean Lee from SBVK commented, “We were impressed by the team’s passion for education, prowess in technology and the latent possibilities in the digital math education market. We look forward to helping cultivate Knowre into a digital math service for students around the world.”
Founded by a team of educators and technologists, Knowre’s patented technology assesses students’ strengths and weaknesses and develops a personalized curriculum that adapts in real-time as they progress. Knowre also engages students with math learning through an attractive, gamified user experience.
“We took our years of experience as math instructors and running a math academy in Seoul, South Korea to digitalize our offline methodology. Our focus has always been to discover students’ weaknesses and help resolve the problems they face when learning mathematics,” said YJ Kim, CEO and Co-founder of Knowre.
“As we look to build out our business in the US, we are extremely delighted to have this support from SoftBank Ventures Korea. This financing will help Knowre to continue developing top-rate proprietary content and technology, and deliver our service to teachers, parents and students in the US,” added David Joo, CEO and Co-founder.
Knowre plans to launch their open beta service in the US during the first quarter of 2013.
Knowre is an education technology company delivering personalized and engaging learning experiences to students around the globe. Knowre’s revolutionary technology identifies individual student learning gaps and fills those gaps through algorithmically generated curricula and interactive scaffolded support. Knowre further enhances learning by providing students with an engaging and fun learning environment, and teachers with actionable and comprehensive data. Knowre partners with schools, private education companies, and other corporations with the goal of helping students reach their full potential.
About SoftBank Ventures Korea:
Established in 2000, SoftBank Ventures Korea has formed more than 10 funds and has invested approximately 274 million USD, equivalent, across 130 startup companies (2012 2H). SBVK is a venture capital subsidiary of SOFTBANK Group, one of the largest technology and telecommunications corporations in the world, focused on mobile communications, broadband infrastructure, fixed-line telecommunications, and internet culture. SBVK is committed to investing in and supporting companies and entrepreneurs with disruptive technologies and innovative ideas to change the world.
For more information, please contact: